
********************************************************************************
**#	TABLE 8: Credibility of ISS Threat
********************************************************************************

*Set file path
capture cd "C:\Users\austin.starkweather\Dropbox\Research\CD&A Disclosure\Analysis"
capture cd "C:\Users\joshw\Dropbox\CD&A Disclosure\Analysis"
use "Data\Temp\cda_n426_final.dta", clear

********************************************************************************
*Panel A - Univariate tests
********************************************************************************

*CC members - rows treated/control
ttest iss_rec_no_ccm_avg if(iss_treat==1), by(shareldr_d_p1)
ttest iss_rec_no_ccm_avg if(iss_treat==0), by(shareldr_d_p1)

*Vertical columns 1-3
ttest iss_rec_no_ccm_avg, by(iss_treat)
ttest iss_rec_no_ccm_avg if(shareldr_d_p1==0), by(iss_treat)
ttest iss_rec_no_ccm_avg if(shareldr_d_p1==1), by(iss_treat)

*Director rows treated/control
ttest iss_rec_no_dir_avg if(iss_treat==1), by(shareldr_d_p1) 
ttest iss_rec_no_dir_avg if(iss_treat==0), by(shareldr_d_p1) 
	
*Vertical columns 1-3
ttest iss_rec_no_dir_avg, by(iss_treat)
ttest iss_rec_no_dir_avg if(shareldr_d_p1==0), by(iss_treat)
ttest iss_rec_no_dir_avg if(shareldr_d_p1==1), by(iss_treat)

********************************************************************************
*Panel B - Regression
********************************************************************************

est clear
local controls size_w mtb_w roa_w lev_w abn_ret_1yr ln_analyst io_pct0 issrecno td_cboard_hc comp_committee_tenure_ave dualclass dirvote_for_iss
eststo: xi: reghdfe iss_rec_no_ccm_avg          				iss_treat less_response `controls', absorb(fyear sic1)
eststo: xi: reghdfe iss_rec_no_ccm_avg interact_less_response 	iss_treat less_response `controls', absorb(fyear sic1)
eststo: xi: reghdfe iss_rec_no_dir_avg          				iss_treat less_response `controls', absorb(fyear sic1)
eststo: xi: reghdfe iss_rec_no_dir_avg interact_less_response 	iss_treat less_response `controls', absorb(fyear sic1)
esttab using "Output\Final\T8B_credible_threat.csv", b(3) ar2 title("Regressions of the credibility of the ISS threat") varwidth(25) order(iss_treat less_response interact_less_response size_w mtb_w roa_w lev_w abn_ret_1yr ln_analyst io_pct0 issrecno td_cboard_hc comp_committee_tenure_ave dualclass dirvote_for_iss) star(* 0.10 ** 0.05  *** 0.01 ) replace
